US Ex-Im Bank approves loan guarantee for sulfur complex in Iraq

9:37 AM MST | November 9, 2012 | Natasha Alperowicz

The Export-Import Bank (Ex-Im Bank) of the United States (Washington) has agreed to guarantee a J.P. Morgan Chase loan of $35 million to Devco International (Tulsa, OK) for the design of a sulfur purification plant to be located at Mosul, Iraq. The facility will be owned by Al Mishraq Sulfur (Baghdad). Devco, a chemical engineering firm that designs sulfur handling–equipment, will use a modular concept to design procure, fabricate and preassemble the plant in the United States and ship the plant in modular form to Iraq. In Iraq, Al Hawarth...